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Started By
Message
Lottery- whatcha taking
Posted on 11/3/22 at 7:14 am
Posted on 11/3/22 at 7:14 am
After taxes are you taking
a check for $491 million
Or
$49.5 million a year for 20 years
I would probably go with the annuity set up under a family trust
a check for $491 million
Or
$49.5 million a year for 20 years
I would probably go with the annuity set up under a family trust
34
Posted on 11/3/22 at 7:15 am to Higgysmalls
Give me da cash money baw.
Posted on 11/3/22 at 7:15 am to Higgysmalls
annuity, unless my new top of the line, triple OG, financial adviser tells me different.
Posted on 11/3/22 at 7:16 am to Higgysmalls
with the way the american dollar is trending I will take the $491 mil and invest alot of it in several locations around the world.
Posted on 11/3/22 at 7:16 am to Higgysmalls
quote:
a check for $491 million
It’s my money and I want it now!
Posted on 11/3/22 at 7:16 am to Higgysmalls
I know the math says to take the lump sum but most people would probably be better off taking the 20 year payment option to protect themselves from themselves
Posted on 11/3/22 at 7:16 am to Higgysmalls
Taking the lump
After taxes taking 1/4 of what I get and putting into low risk bonds. Then anther 1/4 into ETFs and medium risk securities.
Then 1/4 divested among my extended family (all 20 cousins get at least their mortgages erased)
Then the remaining quarter I'm spending. What I put away will pay out for longer than 20 years.
After taxes taking 1/4 of what I get and putting into low risk bonds. Then anther 1/4 into ETFs and medium risk securities.
Then 1/4 divested among my extended family (all 20 cousins get at least their mortgages erased)
Then the remaining quarter I'm spending. What I put away will pay out for longer than 20 years.
This post was edited on 11/3/22 at 7:18 am
Posted on 11/3/22 at 7:19 am to PEwannabe
quote:
with the way the american dollar is trending
Relative to other currencies it's doing pretty well actually
Posted on 11/3/22 at 7:20 am to Higgysmalls
quote:
taking
a check for $491 million
i have a list of 40 people who i would make rich. $5m each for those still leaves me with over $200m? I'm in!
Posted on 11/3/22 at 7:20 am to Higgysmalls
Pretty sure it’s a 30 yr payout if you take the annuity.
Posted on 11/3/22 at 7:21 am to MorbidTheClown
quote:
i have a list of 40 people who i would make rich
And this is why people like you would be a fool to take the lump sum
Posted on 11/3/22 at 7:22 am to Powerman
if you say so.
Posted on 11/3/22 at 7:22 am to Higgysmalls
For Louisiana residents they'll clear about $438 million based on a tax rate of 37% for the feds and 4.25% for Louisiana.
Also, the Powerball is paid out over 30 years, not 20.
Given inflation and the possibility that tax rates will only go up in the future, I'd take the lump sum.
Also, the Powerball is paid out over 30 years, not 20.
Given inflation and the possibility that tax rates will only go up in the future, I'd take the lump sum.
Posted on 11/3/22 at 7:23 am to MorbidTheClown
quote:
if you say so
If the first thing you would do is give away 5 million to 40 people you'd definitely be broke in a few years
Posted on 11/3/22 at 7:24 am to Powerman
i'm ok with that. i don't have a lot of years left anyway. if i could make 40 friends and family members happy. why not?
Posted on 11/3/22 at 7:25 am to MorbidTheClown
quote:
I have a list of 40 people who i would make rich. $5m each for those still leaves me with over $200m? I'm in
Not after speaking with a tax lawyer you wouldn't.
Giving that $200 million would cost you about $80 million in gift taxes.
Posted on 11/3/22 at 7:26 am to Higgysmalls
The payout numbers for the lump sum and the annuity, both before and after taxes, are set out at USAMega.com.
The annuity is over 30 years and increases each year, USAMega.com Louisiana annuity table
The annuity is over 30 years and increases each year, USAMega.com Louisiana annuity table
This post was edited on 11/3/22 at 7:31 am
Posted on 11/3/22 at 7:27 am to MMauler
quote:
Giving that $200 million would cost you about $80 million in gift taxes.
i'm not a greedy man. i can scrape by with a few less Mil.
Posted on 11/3/22 at 7:27 am to Higgysmalls
Posted on 11/3/22 at 7:27 am to MorbidTheClown
quote:
i have a list of 40 people who i would make rich. $5m each for those still leaves me with over $200m? I'm in!
That’s really stupid
It’d be more fun to have a list of 40 people to make poor
You could like get them fired and get a divorce and stuff. Make their hair fall out somehow
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